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ImAFanOfPentatonix ImAFanOfPentatonix
  • 30-01-2016
  • Mathematics
Answered

A pack of cinnamon-scented pencils sells for $5.00. What is the sales tax rate if the total cost of the pencils is $5.25?

Verified Answer :

taskmasters
taskmasters taskmasters
  • 30-01-2016

The sales tax rate is 5%

Given:
Sales price = 5.00
Total amount paid = 5.25

Sales tax value = Total amount paid - sales price
                          = $5.25 - $5.00 
Sales tax value = $0.25
Sales tax rate = Sales tax / Sales price
                        = 0.25/5 
Sales tax rate  = 0.05 or 5%

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